Han Byung-do urges Korea Chamber of Commerce and Industry to "wake up" over inheritance tax fake news

[Financial News] On the 9th, Han Byung-do, parliamentary leader of the Democratic Party of Korea, criticized the Korea Chamber of Commerce and Industry (KCCI), telling it to "wake up to the gravity of the situation."
At a Supreme Council meeting held at the National Assembly the same day, Han targeted KCCI, saying it had "sown confusion with fake news."
On the 3rd, KCCI issued a press release titled "Study on Inheritance Tax Revenue Projections and the Effects of Diversifying Payment Methods." Citing data from a UK immigration consulting firm, it claimed that 2,400 high-net-worth individuals left Korea last year because of high inheritance taxes, double the figure from the previous year. However, flaws in the research methodology came under fire, and KCCI later issued an apology. President Lee Jae-myung remarked that "responsibility will be clearly established and measures will be put in place to prevent a recurrence."
Han said, "The Chamber of Commerce must bear responsibility befitting its public standing," adding that, as the government has decided to conduct an immediate audit, there must be a stern judgment on the dissemination and circulation of this false information.
jiwon.song@fnnews.com Song Ji-won Reporter